If you do not have a statement to see the current balance you can calculate the current balance so long as you know when the loan began, how much the loan was for & your rate of interest. For example, if you are 3.5 years into a 30-year home loan, you would set the loan term to 26.5 years and you would set the loan balance to whatever amount is shown on your statement. Extra Payments In The Middle of The Loan Term: If you start making extra payments in the middle of your loan then enter the current loan balance when you started making extra payments and set the loan term for however long you have left in the loan. Biweekly Payment Method: Please see our bi-weekly mortgage calculator if you are using biweekly payments to make an effective 13th monthly payment. Want to Make Irregular Payments? Do You Need More Advanced Calculation Options? We also offer three other options you can consider for other additional payment scenarios. This calculator allows you to enter an initial lump-sum extra payment along with extra monthly payments which coincide with your regular monthly payments. In addition, you will get the loan paid off 2 Years 1 Months sooner than if you paid only your regular monthly payment. If you make the initial extra payment amount you entered and pay just $50.00 more each month, you will pay only $380,277.66 toward your home. By the time the 30 year time period is complete, you will have paid $391,682.75 for your home. If you take out a 30 year loan for $250000.00 with a 3.250% interest rate, for example, your monthly payment (interest and principal only) will be $1,088.02. When it comes to a home mortgage loan, you can actually pay off the loan much more quickly and save a great deal of money by simply paying a little extra each month. If you are experiencing difficulty with any content on Steadfast Mortgage website or require assistance with any part of our site, please contact us during normal business hours as detailed below and we will be happy to assist.Your Results in Plain English ( Switch to Financial Analysis) This may be a result of not having found or identified the most appropriate technological solution. Steadfast Mortgage continues its efforts to constantly improve the accessibility of its site and services in the belief that it is our collective moral obligation to allow seamless, accessible and unhindered use also for those of us with disabilities.ĭespite our efforts to make all pages and content on Steadfast Mortgage website fully accessible, some content may not have yet been fully adapted to the strictest accessibility standards. After triggering the accessibility menu, please wait a moment for the accessibility menu to load in its entirety. Steadfast Mortgage accessibility menu can be enabled by clicking the accessibility menu icon that appears on the corner on the page. The software allows to improve its compliance with the Web Content Accessibility Guidelines (WCAG 2.1). Steadfast Mortgage makes available the UserWay Website Accessibility Widget that is powered by a dedicated accessibility server. Steadfast Mortgage has invested a significant amount of resources to help ensure that its website is made easier to use and more accessible for people with disabilities, with the strong belief that every person has the right to live with dignity, equality, comfort and independence.Īccessibility on Steadfast Mortgage website Steadfast Mortgage strives to ensure that its services are accessible to people with disabilities. Steadfast Mortgage Accessibility Statement General
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